IHI vs. SGOV
IHI (iShares U.S. Medical Devices ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, IHI returned -1.96%/yr vs 3.54%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. IHI charges 0.43%/yr vs 0.09%/yr for SGOV.
Performance
IHI vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -19.70% return, which is significantly lower than SGOV's 1.52% return.
IHI
- 1D
- 2.76%
- 1M
- 0.16%
- YTD
- -19.70%
- 6M
- -21.09%
- 1Y
- -19.03%
- 3Y*
- -2.23%
- 5Y*
- -1.96%
- 10Y*
- 8.86%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
IHI vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -19.70% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.19% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between IHI and SGOV is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.03 |
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Return for Risk
IHI vs. SGOV — Risk / Return Rank
IHI
SGOV
IHI vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and iShares 0-3 Month Treasury Bond ETF (SGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| IHI | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.40 | ||
| Sortino ratioReturn per unit of downside risk | -277.25 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 195.55 | -194.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 398.20 | -398.93 |
| Martin ratioReturn relative to average drawdown | -1.85 | 4,462.00 | -4,463.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IHI | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.13 | 20.28 | -21.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 14.74 | -14.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 12.49 | -12.02 |
Drawdowns
IHI vs. SGOV - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.65%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IHI and SGOV.
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Drawdown Indicators
| IHI | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.65% | -0.03% | -49.62% |
Max Drawdown (1Y)Largest decline over 1 year | -26.11% | -0.01% | -26.10% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -0.01% | -26.63% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -0.03% | -33.09% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | — | — |
Current DrawdownCurrent decline from peak | -24.17% | 0.00% | -24.17% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -0.00% | -8.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.29% | 0.00% | +10.29% |
Volatility
IHI vs. SGOV - Volatility Comparison
iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 7.01% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IHI's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHI | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 0.05% | +6.96% |
Volatility (6M)Calculated over the trailing 6-month period | 13.05% | 0.13% | +12.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.96% | 0.20% | +16.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 0.24% | +18.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.79% | 0.24% | +19.55% |
IHI vs. SGOV - Expense Ratio Comparison
IHI has a 0.43% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IHI vs. SGOV - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.45%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.45% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHI and SGOV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (7.01%) compared to SGOV (0.05%). In terms of maximum drawdown, IHI dropped -49.65% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs -1.96% for IHI. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.54% return vs -1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.43% for IHI.
SGOV has the higher dividend yield at 3.86%, compared with 0.45% for IHI.
IHI is categorized as Health & Biotech Equities, while SGOV is Ultrashort Bond. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.43% for IHI and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -1.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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